Need a little help with the denomination break down for exchanging to JMD's for eating out, groceries, beach vendors, etc.
If you were exchanging say $1000 US what would you break it into for JMD denominations?
Thanks much!!
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Need a little help with the denomination break down for exchanging to JMD's for eating out, groceries, beach vendors, etc.
If you were exchanging say $1000 US what would you break it into for JMD denominations?
Thanks much!!
Negril is okay for using Jamaican $1000 bills but still a problem out on the island. I recommend mostly $500 and $100 Jamaican bills. I would not exchange more than say $200 US at a time as you will probably get a likkle more later as the exchange rate moves.Quote:
Originally Posted by realxeption
Peace and Guidance
That's just silly. What are you going to save one dollar?Quote:
Originally Posted by Accompong
It isn't the only reason but, yes a dollar is a dollar. I guess when you spend the big bucks on a vacation you don't worry about such things but I am on a limited budget.Quote:
Originally Posted by gerryg123
The main reason is that if he exchanges the entire $1000 US and then something happens (i.e. an accident etc.) that doesn't allow him to spend all that Jamaican then he will lose again when he has to sell it back.
He asked for my opinion and I gave him mine. You should do the same instead of criticizing another person's opinion, don't you think?
Peace and Guidance
Unless it's a long term hold, devaluation will have a minimal impact.
Looking out over the last year, you will gain .0348 JMD per USD per day that you wait to exchange money. So say you can wait a week to exchange $1000 USD, you will only gain an average of 244 JMD.
Attachment 34842
(These are bank rates, so we assume the delta between the cambios and banks stay the same.)